Following up to my $GLD post earlier today I want to touch on silver. Silver is a riskier asset which usually leads Gold (up and down) and outperform gold (up and down). Lately silver is playing catch up and not necessarily leading, however it is sitting at a very precarious spot.
Silver broke down below the lows of 2017 unlike gold. Silver then rebounded back into the wedge what I believe is shaping up to be a “failed breakdown”. These are very powerful signals.
If silver can get above 17.25 i believe it is going to propel all commodities higher and into another long bull.
The metals are already looking bullish, and with the dollar rolling over I believe you just continue to add gold and silver into your portfolio.